There is no question that in these economically uncertain times, sales leaders will need to get a whole lot smarter and more shrewd if they are going to keep their existing customers and they are going to need to be a whole lot more crafty if they are to win the slim pickings that are still out there to be had! That being said there are some fundamental sales management strategies that when implemented are guaranteed to generate sales within the next 90 days.
Strategy #1
Your first strategy will seem so simple and so easy that you are bound to say to yourself; "Is that all there is to it?" Please do not be fooled. Whilst the strategy below may seem simple, when done exactly as I have described below, it delivers some amazing results. So don't question, just do! It has been proven that, when effectively applied, the practice of regular one-on-one Sales Performance Coaching is the fastest and most effective vehicle to drive your sales growth. One-on-one Sales Performance Coaching is a powerful, time-tested, behaviour-changing, sales acceleration strategy and is the foundation on which permanent and consistent growth in your business is built. Whilst there are many different processes and skills to be an effective Sales Performance Coach, there are 2 activities that you can apply that would have an immediate impact to your sales drive.
Sit down with each of your salespeople either in person or by phone, ABSOLUTELY NO LESS THAN ONCE A FORTNIGHT. Depending on the state of your sales pipeline, you may need to ramp that up to once a week. Here's exactly all you need to do...
1. IN DEPTH review the week/ fortnight just past. When you are done...
2. IN DEPTH plan the week/ fortnight coming up.
That's it, that's all, that's the lot!
What does IN DEPTH MEAN?
IN DEPTH means just that. As an example, when prospecting for new business opportunities either with existing customers or new prospects, your salespeople must complete some primary due diligence and be able to answer some or all of the following questions before even fronting up or making the sales call. By having answers to the questions below will afford them the best opportunity for success. Your job in coaching them IN DEPTH is to ensure that before they invest their time and your money going to see a prospect, they are extremely well prepared. Imagine if you asked your salespeople some or all of the questions below before a business development call.
"So you are going to see Bob at ABC...."
1. What have you learned about ABC?
2. Who are all the "players"?
3. What does your research tell you about the critical issues that ABC is facing right now?
4. What is the evidence that they are facing these issues?
5. What do you believe the potential impacts of those issues to be? What evidence do you have that they are dealing with this issue?
6. What are their current constraints in solving that issue (in relation to time, people money)?
7. What is our answer for solving the issue?
8. What are the current market trends in their area?
9. What do we know about other companies that operate in the same space as they do?
10. What are ABC's key strategic initiatives?
11. What would their decision constraint criterion be in relation to time, people money?
12. How may we be in a position to help them?
13. What questions do you have prepared to elicit needs?
14. How do you plan on positioning the company and what it is we do?
15. What information should you bring back from your visit, to move this opportunity to the next stage of the sales pathway?
16. What is the objective of the sales call?
That is what I mean by IN DEPTH! Can you imagine just how much better prepared your sales people would be to take advantage of the opportunities out there with this kind of IN DEPTH probing?
Strategy # 2
Look for sales closest to the "bulls-eye!"
Imagine standing front on and facing the circles of a target. Imagine the "bulls-eye!" in the middle is where the money is. The circle just out side the bulls-eye represents your existing customers, let call them A's. They are the ones closest to the money. The next circle represents those customers that have bought from you occasionally, let call them B's. The circle just beyond the B's are your C's and they represent those prospective companies you have targeted but have yet to buy from you. Then outside of your C's we have the D's. These are prospects we have yet to consider.
Once again, as simple as this practice may seem, it is often neglected. When we need more sales, where do we go looking? Out there in D, E, F, and G land. Start looking for business closest to where the money is. Your sales opportunity is to expand your influence within your A and B customer's organizations and earn a higher percentage of their business. According to the 2008 CSO Insights Sales Performance Optimization Report only 33.6% of C.S.O's interviewed were able to farm additional revenues from their existing customer base, and that was last year during a comparatively good market!
Your role as sales manager is to help your salespeople identify where you have previously left money on the table. What are the opportunities with your A, B and C companies? Go work there! Let your Marketing department figure out how to bring the D, E, F, and G prospects in to where the C's, B's and A's reside. If your salespeople can't answer the questions in Strategy 1 with your A's B's and C customers, you have work to do. Have your people renew old relationships. Have them beat the bushes for new opportunities you have yet to capture with your A's, B's and C customers. They live closest to where the money lives. Go get em'!
Strategy # 3
Go to work and re-engineer your current sales process, if you have one. If you don't then get one! The latest research from the CSO Insights' 2008 Sales Performance Optimization Report shows that 'process-centric' sales teams outperform non-process-centric teams for every measurable metric.
Sales team performance and effectiveness has been shown to increase by as much as 40% when sales teams have a clear, proven sales process visible to them. The chances are extremely good that if you currently have 5 salespeople on your team, you most likely have 5 different sales processes going on all at once! What other part of your business runs on multiple different processes? Imagine running your business with half a dozen different accounting processes, or multiple IT or customer service processes? Sounds silly doesn't it? Yet sales teams do so all the time.
Whilst you can reengineer your current selling process, the exercise is not for the faint-hearted. It may be advisable that you bring in professional expertise to ensure the greatest success. You may just be too close to your own current sales methodology to see the gaps or dysfunction.
So there you have it 3 practical ideas you can implement right now to get sales firing again. At the very least run strategy #1 for 90 days. If you will do that, sales will start to flow again.
As one of Australia's leading authorities and coaches in sales management, Ian Segail has been involved in the coaching, training and development of sales managers and salespeople for over two decades.
Drawing on 25 years of experience in sales, sales management and leading an HR and training team, Ian brings a strong dose of fiscal reality and practicality to his works as a Sales Performance Coach.
Engaging directly with business owners and both novice and experienced sales managers alike, across a wide variety of industries and selling disciplines, the focus of Ian's work is to transform sales results for companies by improving sales management practices.
Ian is the author of "Bulletproof Your Sales Team The 5 Keys To Turbo Boosting Your Sales Team's Results" and a number of business articles, business reports and white papers including "The fish stinks from the head!" and "Why Sales Training Doesn't Work."
Ian has an insatiable hunger for studying selling and people management and has passionately pursued answers to the question "How come some people can sell and most can't?" He can be reached via http://www.iansegail.com
Read Ian's latest free report - "The 7 Most Costly Mistakes Sales Managers Make" here http://www.bulletproofyoursalesteam.com [http://bulletproofyoursalesteam.com/free-report/7costlymistakes.html]
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